IRS Form 1098-T: Tuition Payment Statement

What is it ?

An eligible educational institution, such as the Louisiana State University Health Sciences Center, that receives qualified tuition and related expenses on a student's behalf must furnish form 1098-T to the student. This statement will help you to determine whether you, or the person who may claim you as a dependent, can claim an education tax credit. For information about these credits, see IRS Pub. 970, Tax Benefits for Higher Education. http://www.irs.gov/pub/irs-pdf/p970.pdf The University will send a 1098-T form to students who incurred tuition and fee expenses paid in the 2003 calendar year. Taxpayers are not required to include the form with their tax return. To help taxpayers determine qualified expenses eligible for the credit, a summary of tuition and fee payments and refunds made in the calendar year will be provided on the form. This financial information should not be construed as tax advice. It is simply a summary of The University's financial records.

When and where will the form be mailed ?

Forms will be mailed to the student’s current mailing address the last week of January. Please allow two (2) weeks for delivery before calling our office about your form.

What if I don't receive a form ?

Please review our frequently asked questions for reasons why you may not have received a form. Contact Accounting Services at 433 Bolivar Street, New Orleans, LA 70112 for a copy of your form if none of the questions apply to you.

What if I have more questions ?

Please look at our frequently asked questions to see if the answer to your question is there. You may want to consult a tax professional or the IRS for more information.

Why did I receive a 1098-T form ?

You received a form because higher education costs may be eligible for federal tax benefits. Our records show that you were enrolled in courses at the University, which were paid for the calendar year. Additional information regarding the purpose can be found on the 1098-T form.

What should I do with the 1098-T form ?

You received a form because higher education costs may be eligible for federal tax benefits. The University cannot provide tax advice. Whether you may take advantage of these tax credits depends upon your individual facts and circumstances - information which is known only to you. To find out more about the credits and your eligibility, you may consult a tax professional or IRS publications. You may also call 1-800-TAX-FORMS for IRS publications and forms.

Am I eligible to claim the tax credit ?

The University cannot provide tax advice. Whether you may take advantage of these tax credits depends upon your individual facts and circumstances, information which is known only to you. To find out more about the credits and your eligibility, you may consult a tax professional or IRS publications. You may also call 1-800-TAX-FORMS for IRS publications and forms.

When and where will the 1098-T be mailed ?

Forms will be mailed to the student’s mailing address during the last week in January. Please allow 2 weeks for delivery before requesting a duplicate.

Did you send me a 1098-T form / Why haven't I received my 1098-T form ?

In certain situations, a 1098-T may not have been generated for you:

If payments were made either in previous or future year for classes taken in the current calendar year, the expenses are not reflected in current tax year. When reviewing your records please take into consideration actual payment dates.

If your qualified tuition and related expenses were paid entirely by a waiver and/or scholarship or grant, a 1098-T will not be generated.

We cannot report information to the IRS if we do not have a valid SSN.

We also do not generate 1098 forms for students who are on Visa status.

To change the SSN on the 1098-T, the student must contact the Registrar to have your social security number changed in the computer system. Once you have done this, the Registrar will contact Accounting Services and a new 1098-T will generated.

If these situations do not apply, a 1098-T should have been generated and mailed to the student's mailing address. If you do not receive the 1098-T form, contact Accounting Services at (504) 568-4812.

Why do my records not match the tuition and fee payments reflected on my 1098-T form ?

When reviewing your records please take into consideration actual payment dates in order to reconcile your records to the amounts on the form. The 1098-T form reflects payments and refunds made in the calendar year. Payments made in previous or future years are not included.

I know I didn't pay this much in tuition. Why are the figures on my statement so high ?

The 1098-T form reflects total tuition and fee payments, not just items paid by you individually. Therefore, the statement may include amounts paid by financial aid, tuition waivers, exemptions, etc.

The SSN on the 1098-T is wrong. How can I get it corrected ?

To change the SSN on the 1098-T, the student must contact the Registrar Office to have your social security number changed in the computer system. Once you have done this, the Registrar will contact the Accounting Services and a new 1098-T will generated.